Statoil has landed a 100% stake in a new exploration permit off the New Zealand coast.
The 10,000 sq km area is around 100km off the west coast of New Zealand’s North Island, and sits in water depth of up to 2,000m
Statoil will now collect new 2D seismic data over the next three years to evaluate the possible find.
“We are very pleased with the award, which is in line with the sharpened exploration strategy Statoil has pursued over the last three years,” said the Norwegian giant’s Erling Vågnes.
“New Zealand authorities have emphasised that Block Offer 2013 is an important step towards realising the potential of New Zealand’s oil and gas resources.”